Latest news with #AlEqtisadiah
Argaam
16-02-2025
- Business
- Argaam
Saudi construction sector to grow 5% annually until 2030: SCA Chairman
Saudi Arabia's construction sector is forecast to grow at an annualized rate of 5% until 2030, Mohammed Alajlan, Chairman of the Saudi Contractors Authority (SCA), told Al Eqtisadiah newspaper. This growth reflects expansion across related industries, including suppliers, manufacturing, and labor, he added. According to Alajlan, as much as 18,000 projects are currently underway in Saudi Arabia, fueling trillions of SAR-denominated investments by 2030. He noted a significant influx of foreign companies into the Saudi construction sector, driven by market demand for their expertise. These firms would form alliances with local contractors, therefore facilitating knowledge exchange and collaboration.
Argaam
07-02-2025
- Automotive
- Argaam
KAEC's Industrial Valley hosts 12 carmakers, auto service providers: CEO
Majid Matbouly, CEO of the Industrial Valley and Special Economic Zone at King Abdullah Economic City (KAEC), said the Industrial Valley hosts six factories for car manufacturing and assembly, along with six companies offering automotive logistics, Al Eqtisadiah newspaper reported. Further, KAEC is home to 115 local and international investors operating in key sectors, such as automotive, pharmaceuticals, packaging, logistics services, building materials, and consumer goods, Matbouly said. He added that the Industrial Valley and the Special Economic Zone together house approximately 48 factories, with total investments reaching SAR 12 billion. There are other investors in the Special Economic Zone having investments of more than SAR 15 billion, including the National Automotive Co. (Ceer), Lucid Motors, Hyundai Motor, and the automotive logistics company Park Masarat.
